Almonds:

April showed the most rainfall for any month this year. The snowpack is at 38% and the reservoirs are at about 50% - both are too low for this time of year. The drought situation is far from over.

The almond market has been fairly quiet as of late, Larger NPS sizes are dwindling, Cals are plentiful in smaller sizes, but the larger ones are becoming a little more sparse.

The biggest news is the USDA initial acreage report for the 2022 crop. Estimate is 1.37 million acres vs last year’s 1.32 million. An estimated 900 million pound carry-out will undoubtedly make for an adequate supply for next year. Almonds look like they will remain a value for the foreseeable future.

NPS $2.15-$2.85
ABCs $2.45-$2.70
Cal/Carmel $1.90-$2.05

Pecans:

Prices are way up over last year, especially pieces. An increase of over $2. Higher quality in-shell is being held onto and some growers are asking for $4.50 per point. This is up from last month’s $4.15-$4.25 ask. Seemingly there is adequate supply out there, just in strong hands.

Labor shortages are still an issue, although seemingly getting better. The pipeline for supplies is still empty and shipments are delayed. We will watch with anticipation as the summer grows to a close and we see what is left in inventory and what next year’s crop shapes up to be. Small pieces, and anything smaller, are coming up short due in part to the higher quality in-shell and the lack of natives and lower quality in-shell.

FJMH $6.15-$6.25
Fancy Pieces $5.25-$5.65

Walnuts:

The market is slow. Buyers are there but are hammering the price. It is weaker than last month.

Shipments for March were 75 thousand tons, down from this time last year. Domestic shipments were down 13%, exports up 4%. YTD shipments were down 16%. As in every category, logistics are an issue. Trucking/shipping is very expensive and exacerbating the problem.

LHP 20 $2.20-$2.25
CHP 20 $1.55-$1.60

Cashews:

The war has had an affect on the price of cashews - about a 10-cent discount. The crops have had rain during harvest in Vietnam, which does not bode well for a full crop. Africa reportedly has less crop coming in than last year. In-shells and transportation are expensive and will increase the cost of production moving forward with new crop.

WW 240 $3.25
WW 320 $2.95

Pistachios:

Bearing acreage is expected to increase to 523,000 in 4 years - a sharp increase over the 409,000 acres for 2021’s crop. As of now, supply is tight - with many not offering as they are in a well sold position. Shipments are up both domestically and for export. 30% of the Iranian crop is reportedly damaged from frost. This will likely increase export for California packers.

18-22 X number 1 $3.90
21-27 X number 1 $3.65
80 percent whole $8.75